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Stock Analysis 01st-2nd (June)
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Posts
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By Stocks4life · Posted
BYND Beyond Meat stock nice move higher off the 6.22 lower triple+ support area, https://stockconsultant.com/?BYND -
By Stocks4life · Posted
SGML Sigma Lithium stock attempting to move higher off the 11.91 lower triple support area, https://stockconsultant.com/?SGML -
By Stocks4life · Posted
SPOT Spotify stock, good trend watch for a top of range breakout, target 355 area, https://stockconsultant.com/?SPOT -
By Stocks4life · Posted
DOMO stock with a bottom breakout watch above 7.66, target 8.95, https://stockconsultant.com/?DOMO -
By HFblogNews · Posted
Date: 26th June 2024. Market News – European Stocks Follow US Gains, Inflation Pressures Rise in Australia. Trading Leveraged Products is risky Economic Indicators & Central Banks: Australia’s CPI surged to 4% in May, up from 3.6% in April, complicating the central bank’s plans for rate cuts. This increase was mainly driven by higher housing and transport costs. European stocks followed the upward trend after a volatile Asian session and a rally in US session overnight, with markets awaiting new trading catalysts. China’s central bank once again loosened its grip on the Yuan as the currency traded near the lower end of its fixed daily trading band. A Bloomberg survey indicated that China’s export outlook is set to improve, supporting growth in the world’s second-largest economy despite slowing consumer spending. Treasuries lost ground with yields ending a few basis points higher as hawkish comments from the Fed’s Bowman combined with risk-on flows into the NASDAQ and a slightly better than expected confidence report weighed on bonds. Investors are likely to continue investing in US stocks at any sign of a pullback as the Fed moves closer to reducing interest rates, according to Societe Generale SA, which expects the easing cycle to begin early next year. Asian & European Open: Asia stock indices rose, while Australian stocks declined. US stock futures edged higher in Asia, bolstered by a rebound in Nvidia shares. The bounce in Nvidia after its 3-day rout helped lift tech and in turn the NASDAQ and the S&P500. Nvidia climbed 6.8%,following a $430 billion sell-off. The NASDAQ ended with a 1.26% gain, while the S&P 500 was 0.39% in the green. The Dow dropped -0.76% with a -2.67% plunge in materials leading a broadbased decline. Rivian Automotive Inc. surged as Volkswagen AG announced a $5 billion investment to form a joint venture with the electric-vehicle maker. Financial Markets Performance: The USDIndex firmed but off its 105.78 peak. USDJPY held just below the critical 160 per Dollar level, raising concerns about possible market intervention. The AUD strengthened to 0.6688 due to faster-than-expected inflation data. USOIL held a decline following an industry report indicating a small increase in US crude inventories ahead of official government data. Copper fell to its lowest level in over 2 months due to sustained pressure from weak Chinese demand. Gold remained largely unchanged. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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